Amorphous (Fe1-xGdx)(80)B-20 alloys have been prepared by melt spinning tec
hnique and their magnetic properties have been studied. The Gd moment at 10
K is found to be 7 mu(B) which agrees with the theoretical value indicatin
g a collinear spin structure. The magnetic compensation at 10 K occurs for
x close to 0.195. The mean-field theory has been used to explain the temper
ature dependence of the magnetization. The exchange interactions between Fe
-Fe, Fe-Gd and Gd-Gd atom pairs have also been evaluated. From an analysis
of the approach to saturation magnetization, the local random anisotropy co
nstant K-L has been extracted. It is found that K-L decreases with increasi
ng Gd concentration. This result suggests that the substitution of Fe with
Gd seems to favor the increase of magnetic order by reducing the random ani
sotropy.